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It has managed to close higher on some days, largely springing off promising domestic economic figures.
THE NEWS The broadest of the main stock market indexes, the Standard & Poor's 500, rallied to close higher on Monday than where it began the year.
So even as the Dow Jones industrial average managed to close higher on Tuesday, the three major indexes finished lower for August as investors fled to safer assets.
Updated at 5.59pm BST 5.37pm BST European markets close higher on optimism ahead of summit European markets have closed broadly higher ahead of the EU summit starting on Thursday, with increased optimism on Spain and Greece helping the positive mood.
A push above that to close higher on Tuesday, if it happens, might be viewed as a sign of technical strength.
"The fact that the VIX remains well above its pre-2/27 lows and actually managed to close higher on [April 25] in the face of a huge upside day in the market is a very strong indication to me of the skepticism that is accompanying this rally," Schaeffer wrote.
Similar(53)
Six stocks fell for every one that closed higher on the NYSE; on the Nasdaq, the ratio was about 2-1/2 decliners for every 1 advancer.
The Nasdaq last closed higher on June 29 , 2001 at 2,160.54.
European markets closed higher on the Greek news.
Almost all the big retailers closed higher on Wednesday.
Markets in most of the rest of the world also closed higher on Thursday.
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